MRKT20052 Marketing Management and Digital Communications Report Sample

MRKT20052 Marketing Management and Digital Communications

Task Description:

Assessment 2 requires students to work in groups of up to five students on the company Ginger & Smart (www.gingerandsmart.com) in order to prepare a comprehensive marketing audit. The aim of this assessment is to conduct a systematic, comprehensive and objective analysis of the marketing activities undertaken by the company. In addition, you are also required to provide at least two recommendations for the company. The marketing audit should be a maximum of 2000 words in length including everything (from title page to references). The written report is worth 30%. Groups are required to present only the comprehensive executive summary during tutorial classes in weeks 10 and 11. Each presentation should not be more than 5 minutes in duration with a maximum of 6 slides (including title slide and references). The presentation is worth 10%.

Your submission should show an application of relevant marketing concepts, theories, and analytic tools learnt in the unit. The marks for this assessment will depend primarily on presenting appropriate and supporting evidence and also, on the ability to critically write and present the marketing audit report. You are strongly encouraged to use the Academic Learning Centre (ALC) facilities to assist you in preparing a professional report and presentation. This is a group assessment (maximum group size is 5 students). All group members must be from the same workshop. Workshop facilitators will provide additional information about forming groups in the workshop classes. Please note that once you are placed in a group, you are not allowed to change groups (i.e., join another group) without prior permission from the teaching staff (workshop facilitator).

Changing groups without informing the teaching staff will result in substantial delay and erroneous mark allocation to group members. A penalty of 10% will be applied to students who change groups without notifying the teaching staff. This is in line with the Assessment Policy and Procedure 4.11 section f) which clearly states assessment specifications (maximum length, presentation format, etc.) and any penalties for not complying with the specifications.

• The presentation of the comprehensive executive summary will require students to discuss an overview of the following sections of the marketing audit:

1. Situation analysis;
2. Segmentation, targeting and positioning (STP);
3. Analysis of the marketing mix strategy used by the company; and
4. Recommendations.

• Each group will have maximum of 5 minutes to present with a maximum of 6 slides (including title slide and references). It is up to each group to rehearse and manage the time limit for the presentation. Remember to cover only the main points of the report and not everything that is in the written report. The markers will stop the presentation at 5 minutes even if the group has not completed the entire presentation.

• The same mark will be applied to all group members.

• For students, your presentations will start in Week 10 and is expected that all groups are ready to present in week 10.

• For all students: if you are unable to attend a class/Zoom session and do not let your lecturer/Unit Coordinator know in advance or do not have a medical certificate or a sufficient reason why you were not present, you will receive a zero mark for your presentation.

The preparation for this assessment involves extensive research and each group will need to start working on this assessment as early as possible. Both the marketing audit report and the associated PowerPoint slides will need to be uploaded in Moodle under the “Assessment 2” submission link by the due date. Any assessment with a ‘Turnitin’ score of more than 25% will be checked by the marker and unit coordinator for potential plagiarism issues although it may not necessarily mean that you have plagiarised. If there is a substantial similarity score in the ‘Turnitin’ report, your assessment could be forwarded to an appropriate office/authority. 

Solution

Introduction

As per MBA Assignment Experts, The forthcoming report is based on the marketing audit of Ginger & Smart, which is famous for manufacturing clothes and accessories and is an Australian brand. This brand manufactures its products to promote the positivity and strength of women. This brand provides luxury and adopts fast fashion, which attracts the customers because people now a day are focusing on following the trends.

Situation analysis

Company analysis

Ginger & Smart is a clothing brand, and this brand mainly manufactures its products to define the spirit and positivity of women (Zambezee, 2022). This brand has its e-stores and retail stores, and they manufacture their products with minimal waste of natural resources. They have 11 to 50 employees, and they are focusing on increasing their image on social awareness so that it increases their position in the market. An organisation need to focus on the marketing of its products that can help to attract numerous customers to the product (Rangaswamy et al., 2020). 

Competitive analysis 

Competitive analysis is of utmost crucial in identifying the point of interest of consumers within the industry (Li et al., 2020). Porter’s five forces analysis is very beneficial in understating the market competition of a certain industry (Bruijl, 2018). 

Table 1: Porter’s five forces analysis 
Source: (Developed by the author)

SWOT Analysis

The word SWOT refers to strength, weakness, opportunity and threat. Through SWOT analysis, the position of a company's competitiveness and the strength of a strategic plan come out (Benzaghta et al., 2021). 

Table 2: SWOT analysis
Source: (Developed by the author)

PESTEL Analysis

PESTEL analysis is a tool that identifies the external factors affecting the business (Alanzi, 2018). The factors are Political, Economic, Technological, Legal and Environmental factors. 

Table 3: PESTLE analysis 
Source: (Developed by the author)

Segmentation, Targeting and Positioning

For developing the business, the company used a few segmentation techniques such as Demographic segmentation, Behavioural segmentation, Geographic segmentation, and Psychographic segmentation (Lotame, 2022). 

● Demographic: Demographic segmentation mainly refers to targeting the audience, and in the case of Ginger & smart, they are focusing on targeting a group of customers from the age of 18 to 40. 

● Behavioural: The next is behavioural segmentation. The consumers who have a pattern of economical purchasing shall also be the target segment.

● Geographic: In geographic segmentation, the company select their target customers based on the location, country, and state, and for this, the urban region or segment can be chosen.

Targeting: The company focuses on targeting the age of 18 to 40, and they are collecting information about their choices which will enhance the ideas of forming the strategies. The urban region consumers shall be targeted as they will be able to afford the products of the firm. 

Positioning: Now a day, most customers are focusing on the digital platform. Through the digital platform, a company can get the opportunity of interacting with the customers, and they get to know about their choices which are beneficial for the growth (Hsieh & Wu, 2019). People are getting attracted to the new fashions as they are concerned about the new trends (Gazzola et al., 2020). Therefore, this will be positioned under the premium fashion segment of the market.

Marketing Mix Audit

● Product: Ginger & Smart is an Australian company that produces clothes and accessories. People are inclined toward changing fashion because companies like Ginger & Smart are taking up fast fashion to attract customers. 

● Price: The company is focusing on making new designs to increase their customers. Increasing the number of customers and including their preferences places the company in a good position over other companies. As they are not decreasing their prices, they focus on a particular class of society. 

● Promotion: The branding strategies adopted by the company are - product branding, online branding, and service branding. Product branding is a very popular branding type, and in this branding, the company makes the product different from others to attract customers. They make the branding of the products uniquely to create an impressive impact on the people. Online branding is another branding strategy through which the company can create a long-lasting impact. 

● Distribution: The visual effect creates a long-lasting impact because the company effectively does their digital marketing. The reason for focusing on online branding is that most people spend a long time on social media nowadays. Attracting customers is beneficial for the development of the company through public relations management.

Recommendations

The two recommendations for developing the clothing business are, focusing on not decreasing the quality of the products and focusing on the competitors. 

● With the rise in popularity of digitalisation, Ginger & Smart should focus on the strategies through which it can attract tech-savvy customers to the company's products that can help in increasing its reach in the market. Also, Ginger & Smart need to focus on their social responsibilities simultaneously. Hence, by accumulating both of these strategies and innovating its selling media, the company can achieve tremendous business growth in the Australian market. 

● Based on the above analysis, it can be recommended that Ginger & Smart should diversify its product range, which can help to seek a positive response from the young customers. 

Conclusion 

Thus, it can be concluded by saying that Ginger & Smart adopted many strategies so that they could develop their business, from maintaining their price to not decreasing their products. They know that they are focusing on providing luxury through their products. Because of that, they are not ready to give their products at a low price. Giving their products at a low price will decrease their position in the industry.

References

Alanzi, S. (2018). PESTLE Analysis. Project Management. https://www.researchgate.net/profile/Salem-Alanzi/publication/327871826_Pestle_Analysis_Introduction/links/5baa982e299bf13e604c88a1/Pestle-Analysis-Introduction.pdf

Austrade. (2021). Resilient economy. Retrieved 3 May 2022, from https://www.austrade.gov.au/benchmark-report/resilient-economy#:~:text=Australia's%20growth%20rate%20is%20remaining,for%20advanced%20economies%20(4.2%25).

Benzaghta, M. A., Elwalda, A., Mousa, M. M., Erkan, I., & Rahman, M. (2021). SWOT analysis applications: An integrative literature review. Journal of Global Business Insights, 6(1), 55-73. https://digitalcommons.usf.edu/cgi/viewcontent.cgi?article=1148&context=globe

Gazzola, P., Pavione, E., Pezzetti, R., & Grechi, D. (2020). Trends in the fashion industry. The perception of sustainability and circular economy: A gender/generation quantitative approach. Sustainability, 12(7), 2809. https://www.mdpi.com/2071-1050/12/7/2809/pdf

Hsieh, Y. J., & Wu, Y. J. (2019). Entrepreneurship through the platform strategy in the digital era: Insights and research opportunities. Computers in Human Behavior, 95, 315-323. https://doi.org/10.1016/j.chb.2018.03.033

International student. (2022). Technology | Study in Australia. Retrieved 3 May 2022, from https://www.internationalstudent.com/study_australia/why_study_australia/technology/

Li, S., Zhou, J., Xu, T., Liu, H., Lu, X., & Xiong, H. (2020, August). Competitive analysis for points of interest. In Proceedings of the 26th ACM SIGKDD International Conference on Knowledge Discovery & Data Mining (pp. 1265-1274). https://dl.acm.org/doi/pdf/10.1145/3394486.3403179?casa_token=yO1Boh-vt24AAAAA:5p5gjozeO6m2jEfM4aTiutUMhvyA7PqcCLWmMrPyIoxdPytIGVOQp3-qaXag2zYVlJsjphyoLXXIdWA

Lotame. (2022). What is Market Segmentation? 4 Types & 5 Benefits. Retrieved 3 May 2022, from https://www.lotame.com/what-is-market-segmentation/#:~:text=It%20refers%20to%20splitting%20up,most%20basic%20form%20of%20segmentation.
Mindtools. (2022). Michael Porter's Strategic Model. Retrieved 3 May 2022, from https://www.mindtools.com/pages/article/newTMC_08.htm

Rangaswamy, A., Moch, N., Felten, C., van Bruggen, G., Wieringa, J. E., & Wirtz, J. (2020). The role of marketing in digital business platforms. Journal of Interactive Marketing, 51, 72-90. https://scholar.google.com/scholar?output=instlink&q=info:CroQGm3F3QYJ:scholar.google.com/&hl=en&as_sdt=0,5&as_ylo=2018&scillfp=17161037136479951619&oi=lle

Shamsudin, M. F. M. F., Esa, S. A. S. A., & Ali, A. M. A. M. (2019). Determinants of customer loyalty towards the hotel industry in Malaysia. International Journal of Innovation, Creativity and Change, 6(9), 21-29. https://www.ijicc.net/images/Vol6Iss9/6903_Shamsudin_2019_E_R.pdf

Stoker, G., Evans, M., & Halupka, M. (2018). Trust and democracy in Australia: democratic decline and renewal. https://apo.org.au/sites/default/files/resource-files/2018-12/apo-nid208536.pdf

Zambezee. (2022). Ginger and Smart. Retrieved 3 May 2022, from https://www.zambezee.com.au/collections/ginger-and-smart